Are you a Founder or Entrepreneur transitioning from startup to scale-up and finding yourself spending more time on the business than in it? That’s a positive sign of growth, but it’s essential to ensure that your client relationships don’t suffer in the process. Here are three critical questions to consider as you navigate this next phase:
- Client Understanding: Are you still intimately familiar with your clients’ needs, pain points, and goals? In the hustle of scaling up, it’s easy to lose touch with the factors that initially drove your success. However, neglecting client relationships can have significant repercussions, including decreased retention, revenue, and advocacy.
- Targeted Approach: Do you have the bandwidth to target new products/services to specific segments within your client base? Effective targeting is key to maximising the impact of your launches and minimising resource wastage. Focusing on the right opportunities ensures that your efforts yield the greatest return on investment.
- Issue Resolution: When a client faces an issue, do you have the capacity to ensure it’s resolved satisfactorily? Quick and efficient issue resolution is crucial for maintaining trust and satisfaction. However, as your business grows, managing these interactions becomes increasingly challenging without dedicated resources in place.
If you find yourself answering ‘no’ to any of these questions, it’s time to establish a dedicated client management function. Even if it starts with just one person (or a shared role), laying a solid foundation is critical for future success.
Here’s how to do it:
- Defining the Role, Objective, and Purpose: Clearly define the role, objectives, and purpose of your client management function. Understand how this role contributes to your organisation’s success and what specific goals they should strive to achieve.
- Processes and Guidelines: Implement clear processes and guidelines to streamline workflows and ensure consistent delivery of high-quality service.
- Objectives and KPIs: Set clear objectives and SMART KPIs aligned with your organisation’s strategic goals. These measurable targets provide benchmarks for success and progress tracking.
- Clarity of Focus: Provide clarity of focus by outlining responsibilities and emphasising the importance of client relationship nurturing and business growth.
- Data, Tracking, and Structure: Establish systems for gathering and analysing client data, enabling informed decision-making and enhanced experiences.
- Right Skillset: Ensure your team possesses the necessary skills to excel in their roles, investing in their training and development as needed.
By focusing on these foundational elements from the outset, you’ll set the stage for the seamless growth of your client management function from a one-person operation to a thriving team.
If you would like help in creating an effective account management function, contact Sharon for a complimentary discovery call.
Photo: Levi Jones on Unsplash